Beach keen to let people know how much of ADE they already have. An asx statement yesterday and again this morning, saying the same thing, that they now have 44.23% of ADE.
Trying to get remaining shareholders shares through enforcing their current position in ADE, making it look like it's a done deal and that it's all over for ADE, sell us your shares now.
From this mornings trade volumes, it seems that a lot of shareholders, myself included, believe it's not a done deal and are waiting for more direction from ADE management and the prospect of a better deal from BPT or someone else.
The majority of yesterdays trade was only one holder. I think that was BPT's big ace up their sleeve, and I believe they were sure that on that large volume, more shareholders would have capitulated and given their shares away cheaply.
At this stage, looking at todays volume, it's clear we don't all think BPT's statement in yesterdays ASX announcement is the final chapter in ADE,
"The remaining shareholders who do not accept the Offer face potential share price risk and reduced liquidity once the Offer closes."
I believe BPT would have liked to have had more shares by now, they would have wanted this to be short and swift, a decisive result.I now hope our management team can get their fingers out and get the true value of ADE for their remaining shareholders and frankly, for themselves.
DYOR.
ADE Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
